But it’s well worth reading the whole article to tease out the details, especially if you are a member of IMA or if you care about where the arts are headed in Indianapolis. In really simple terms, the IMA director Venable decided to cut the budget to keep their draw from endowment under 5%, which will result in laying off staff. But their endowment is quite high and could easily retain that staff given the current state of the economy. And the board is supporting that decision, even though it will result in a reduced quality of services and cultural impact for Indianapolis.

Especially disturbing are the suggestions that there was a whisper campaign that past directors of the IMA were profligate about spending – there’s no real evidence of irresponsibility, and IMA stands as an example of a very well-run and quite popular institution given it’s size and the size of the metropolitan Indianapolis community.